Cachet partners YellowPepper to bring mobile deposit technology to Latin America

Wednesday 11 December 2013 00:09 CET | News

Cachet Financial Solutions, a provider of remote deposit capture (RDC) services, has entered a partnership with YellowPepper, a Latin American mobile financial network provider, to provide mobile remote deposit capture services for the latter’s YEPEX mobile banking network.

Cachets Select Mobile application allows account holders to initiate mobile deposit capture sessions on their smartphone or tablet. The deposit technology can be run as a standalone application or integrated into an existing mobile offering. In order to make a deposit to an account through the application, members have to snap pictures of their endorsed cheques and submit them for processing. 

YellowPepper allows banks, mobile network operators, merchants and consumers to carry out mobile financial transactions. The company currently has operations in nine countries, including Mexico, Peru, Ecuador and Guatemala.

In recent news, YellowPepper has secured USD 15 million in Series C funding round led by Latin Idea Ventures and included participation from IFC/World Bank and other investors. The fund-raising round has brought the total venture funding to USD 30 million.

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Keywords: Cachet Financial Solutions, YellowPepper, Mobile Deposit, mobile deposit capture, Select Mobile, remote, YEPEX, mobile banking, Latin American
Categories: Payments & Commerce
Countries: World
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